Jiuyou Fund’s transfer of funds delayed awaiting opening of custody account

As previously announced, JonDeTech Sensors AB (publ) and the Chinese tech-fund Jiuyou Fund has entered into a binding agreement regarding an investment of SEK 40 million, and that the investment will carried out through a transfer of SEK 20 million to a Swedish bank account of JonDeTech today, May 15, 2020 at the latest, and that the remaining SEK 20 million will be transferred in local currency to a wholly-owned subsidiary of JonDeTech in China. Technically, SEK 20 million in Sweden constitutes the issue proceeds and the remaining SEK 20 million in China will be contributed to JonDeTech as a condition for the investment.

Jiuyou Fund has today informed the board of JonDeTech that the transfer of SEK 20 million to a Swedish bank account of JonDeTech has been delayed due to technical reasons relating to Jiuyou Fund’s opening of a custody account. The board of directors has, based on these reasons, approved an extension of the subscription and payment period for the share issue.

About JonDeTech JonDeTech is a Swedish company that develops, and markets patented IR sensor technology based on nanotechnology. The company’s IR sensors are down to one-tenth as thick as conventional sensors, built in plastic and can be manufactured in high volumes at a low cost, which opens for a variety of applications in, among other things, consumer electronics and mobile phones. The company was founded in 2008 and is listed on Nasdaq First North Growth Market. Redeye is the company’s Certified Adviser, +46-8-121 576 90, [email protected], https://www.redeye.se. Read more at www.jondetech.se or see how the IR sensor works at www.youtube.com/watch?v=2vEc3dRsDq8.

2020-05-15-PM_Delayed-ENG
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